Jump Financial LLC Boosts Stake in Intercorp Financial Services Inc. $IFS

Key Points

• Jump Financial LLC increased its stake in Intercorp Financial Services by 64.7%, now holding 29,789 shares valued at approximately $987,000.
• Multiple hedge funds have recently adjusted their positions in Intercorp Financial Services, including Northern Trust Corp, which boosted its stake by 103.5% during the last quarter.
• Wall Street analysts upgraded Intercorp Financial Services from a "buy" to a "strong-buy" rating, with an average price target of $30.00.

Jump Financial LLC raised its holdings in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 64.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,789 shares of the company's stock after acquiring an additional 11,698 shares during the period. Jump Financial LLC's holdings in Intercorp Financial Services were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IFS. Helikon Investments Ltd raised its holdings in shares of Intercorp Financial Services by 21.9% during the 1st quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock valued at $39,365,000 after buying an additional 213,392 shares in the last quarter. Millennium Management LLC grew its position in Intercorp Financial Services by 2,109.3% during the 4th quarter. Millennium Management LLC now owns 556,972 shares of the company's stock worth $16,342,000 after acquiring an additional 531,762 shares during the last quarter. Principal Financial Group Inc. grew its position in Intercorp Financial Services by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 396,356 shares of the company's stock worth $13,131,000 after acquiring an additional 15,087 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Intercorp Financial Services by 15.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 323,666 shares of the company's stock worth $10,723,000 after acquiring an additional 43,535 shares during the last quarter. Finally, Fourth Sail Capital LP bought a new position in Intercorp Financial Services during the 1st quarter worth approximately $8,543,000.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Intercorp Financial Services has a consensus rating of "Buy" and a consensus target price of $30.00.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the stock in a transaction on Tuesday, July 22nd. The stock was acquired at an average price of $19.66 per share, for a total transaction of $350,006.98. Following the completion of the purchase, the insider owned 2,946,766 shares of the company's stock, valued at $57,933,419.56. This represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intercorp Financial Services Stock Up 0.8%

Shares of NYSE IFS traded up $0.33 during mid-day trading on Tuesday, hitting $40.05. 94,677 shares of the stock traded hands, compared to its average volume of 208,127. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. Intercorp Financial Services Inc. has a 52 week low of $23.95 and a 52 week high of $40.24. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.37 and a beta of 1.16. The stock has a fifty day moving average price of $37.58 and a 200-day moving average price of $34.95.

Intercorp Financial Services Profile

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.